Tours and activities marketplace Civitatis is set to receive investment of about €100 million following an agreement with private equity firm Vitruvian Partners.
The Spain-based company says it wants to accelerate expansion in the rest of Europe as well as Latin America through the “growth partnership.”
Vitruvian has invested in the company alongside Alberto Gutierrez Pascual, founder and CEO of Civitatis, who until now held full ownership.
Gutierrez says: "If ever I was going to bring in an investor, it would have to be the best, the one that could help us take Civitatis to the next level; Vitruvian Partners is a perfect fit. They are one of the leading international private equity funds focused on high-growth companies and with an exceptional track record partnering with world-leading technology platforms.”
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Sophie Bower-Straziota, partner at Vitruvian Partners, adds: "Civitatis offers a quality, accessible and trusted platform for excursions and guided tours, based on almost 15 years of deep domain expertize curating the best guides for each destination.
"Given our extensive experience working with founder-led companies across consumer internet and travel, we believe Civitatis has a fantastic opportunity to further accelerate its growth internationally and strengthen its position as a leading tourism experience platform worldwide."
Vitruvian has a track record of investing in travel companies having backed Travel Counsellors and Skyscanner in the past as well as acquiring a majority stake in Sykes Holiday Cottages in 2019.